India Industrial Valve Market Research Report 2023

India Industrial Valve Market Synopsis

India Industrial Valve is Expected to Grow at a Significant Growth Rate, and the Forecast Period is 2023-2030, Considering the Base Year as 2022.

• The industrial valve market in India has grown significantly in recent years with the expansion of various sectors such as oil and gas, power generation, chemical processing, water and wastewater treatment, and manufacturing. Valves play a vital role in these industries to regulate the flow of liquids and gases, ensuring smooth operation and improving overall efficiency.
• The Indian government's continued focus on infrastructure development and initiatives such as "Make in India" has increased the demand for industrial valves in the country. In addition, growing concerns about environmental sustainability and safety standards have led to the use of more advanced and efficient valve technologies. Major international valve manufacturers have also established a strong presence in India, contributing to the market's growth. But the industry is not without its challenges.
• Possible constraints include price pressure, tough competition and fluctuating prices of raw materials. Despite this, the Indian industrial valve market is poised for further expansion as it modernises its industrial base and invests in critical infrastructure projects. To succeed in this dynamic environment, manufacturers will likely focus on technology development, product customization and building strong relationships with end users to effectively respond to their changing needs.

Top Key Players:

"L&T (India), Kirloskar Brothers Limited (India), Ampo Valves (Spain), Emerson Electric Co. (United States), CRI Pumps (India), VIP Valves Private Limited India (India), Amco Industrial Valves (India), Amtech Valves (India), Hawa Engineers Ltd (India), Novel Valves (India), Forbes Marshall (India), IMI Plc (United Kingdom), Metso Corporation (Finland), The Weir Group Plc (United Kingdom), AVK Holding (Denmark), Avcon Controls Pvt. Ltd. (India), Schlumberger Limited (United States), Crane (United States), Virgo Valves Pvt. Ltd. (India), Oswal Valves Ltd. (India), Weir BDK (India), Hindustan Valves & Engineering Co. (India), Jaiprakash Valves (India) and other major players."

India Industrial Valve Market Trend Analysis

"Make in India" Boosts Valve Market

• The "Make in India" initiative has had a significant impact on the valve market in India. This government-led campaign aims to promote manufacturing in the country and attract foreign investment. As part of this initiative, various incentives and policy reforms were implemented to facilitate trade, reduce bureaucratic hurdles and encourage foreign firms to set up manufacturing units in India. This led to an influx of foreign investments in the valve industry, which led to increased production capacity and the adoption of advanced technologies.
• The focus on developing smart cities across India has increased the demand for industrial valves. As these cities are designed with a focus on sustainability, efficiency and automation, the need for quality valves to regulate water supply, sewage treatment and other critical functions has increased. Therefore, both domestic and international valve manufacturers are taking advantage of this opportunity by expanding their production capacity and offering innovative solutions adapted to the requirements of smart city projects.

Exploring New Markets for Growth

• In the context of the Indian industrial valve market, "Exploration of New Growth Markets" refers to a strategic approach by valve manufacturers to untapped regions and industries in the country in search of new growth opportunities. As the Indian economy develops, various regions and sectors are rapidly developing and modernizing, creating potential demand for industrial valves.
• By entering these untouched markets, valve manufacturers can diversify their customer base and expand their reach beyond traditional markets. For example, emerging industrial corridors, newly established manufacturing hubs and future infrastructure projects in previously underserved areas can offer profitable prospects for valve companies.
• Exploring new industries that may not have been the main focus of valve manufacturers can open doors to niche markets with specific requirements. Industries such as renewable energy, pharmaceuticals, and food processing are experiencing significant growth, and implementing valve solutions tailored to these unique needs can be a winning strategy for manufacturers seeking growth.

As shown in the graph, The projected Value Added in the Machinery and equipment market for 2022 is expected to reach €14.29 billion, indicating a significant growth trend.

India Industrial Valve Market Segment Analysis:

India's Industrial Valve Market is segmented into Type, Material, Size, Application, and Function. By Application, the Oil and gas segment is Anticipated to Dominate the Market Over the Forecast Period.

• The oil and gas segment is an important and prominent sector in the Indian industrial valve market. India's growing energy needs and position as one of the world's largest importers of oil and gas make this segment particularly important. Industrial valves play a key role in the oil and gas industry by controlling the flow of various liquids and gases during production, refining and distribution processes.
• During the exploration and production phase, drilling uses valves and wellheads to control the flow of oil and natural gas. During the refining process, valves are used in complex systems to control the movement of hydrocarbons and other refined products.
• As India continues to focus on improving its energy infrastructure and reducing import dependency, investment in the oil and gas sector is expected to increase. This provides important opportunities for valve manufacturers to provide technologically advanced and reliable solutions that can improve the oil and gas industry's efficiency, safety and environmental sustainability.

India Industrial Valve Market Country Insights:

• The industrial valve market in India's western state of Maharashtra, one of its most economically developed regions, is an important factor in the overall growth of the country's valve industry. Maharashtra is home to several major industries including oil and gas, petrochemicals, power generation, pharmaceuticals, and manufacturing, all of which rely heavily on industrial valves for their operations.
• The country's strong industrial base and robust infrastructure development projects have led to a steady demand for industrial valves. Mumbai, the capital of Maharashtra, is a major economic and industrial hub that attracts local and international valve manufacturers to operate in the region.
• State government initiatives to facilitate business and support the growth of various industries have increased the demand for industrial valves in the Maharashtra region. As the state continues to modernize and expand its industrial activities, valve manufacturers have many opportunities to serve the diverse needs of Maharashtra's industrial sectors and strengthen their presence in this important market.

COVID-19 Impact Analysis on India Industrial Valve Market

• The COVID-19 pandemic has had a major negative impact on the industrial valves market in India. The explosion and subsequent shutdowns disrupted industrial activity across the country, causing a drop in demand for industrial valves. Many industries, including oil and gas, power generation, and manufacturing, have experienced production shutdowns, project delays, and reduced production capacity, leading to lower demand for valves used in these industries.
• Supply chain disruptions were another major challenge during the pandemic. Transport restrictions and border closures have hampered the import of critical valve components and raw materials, causing production delays and costs for manufacturers. The slowdown in economic growth and financial uncertainty caused by the pandemic caused many companies to postpone or cancel their investment plans, which affected investments in industrial valve projects.
• The health and safety protocols put in place to prevent the virus's spread have affected the valve manufacturers' workforce. Labour shortages, social distancing and remote work arrangements have affected productivity and increased operational problems for valve manufacturers.

Top Key Players Covered in The India Industrial Valve Market

• L&T (India)
• Kirloskar Brothers Limited (India)
• Ampo Valves (Spain)
• Emerson Electric Co. (United States)
• CRI Pumps (India)
• VIP Valves Private Limited India (India)
• Amco Industrial Valves (India)
• Amtech Valves (India)
• Hawa Engineers Ltd (India)
• Novel Valves (India)
• Forbes Marshall (India)
• IMI Plc (United Kingdom)
• Metso Corporation (Finland)
• The Weir Group Plc (United Kingdom)
• AVK Holding (Denmark)
• Avcon Controls Pvt. Ltd. (India)
• Schlumberger Limited (United States)
• Crane (United States)
• Virgo Valves Pvt. Ltd. (India)
• Oswal Valves Ltd. (India)
• Weir BDK (India)
• Hindustan Valves & Engineering Co. (India)
• Jaiprakash Valves (India)

Key Industry Developments in the India Industrial Valve Market

In July 2023, Emerson introduced the ASCO™ Series 588 Stationary Oxygen Concentrator, the healthcare industry's first turnkey solution that optimizes ventilator design and accelerates product development. The collector ensures quick availability and reliable operation of the essential oxygen concentrator for patients. It simplifies equipment design and assembly, improves energy efficiency and equipment reliability.

In January 2023, Kirloskar Brothers Limited (KBL) introduced the "KW-LC" Pumps, a new addition to their HVAC product line. These pumps feature a vertical, long-coupled design that streamlines piping and offers space-saving advantages.